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Rand Capital Participates in Centivo $34 Million Series B Funding

Dec 07, 2020•over 4 years ago

Amount Raised

$34 Million

Round Type

series b

BuffaloFinancial Services

Description

Rand Capital Corporation (Nasdaq: RAND) (“Rand”), a business development company, today announced that it recently funded a $500,000 Series B Preferred stock follow-on investment in its portfolio company, Centivo Corporation. The investment was part of a $34 million capital raise and brings Rand’s total investment in Centivo to $800,000.

Company Information

Company

Rand Capital

Location

Buffalo, Kansas, United States

About

Rand Capital (Nasdaq: RAND) is an externally-managed business development company (BDC). The Company’s investment objective is to maximize total return to its shareholders with current income and capital appreciation by focusing its debt and related equity investments in privately-held, lower middle market companies with committed and experienced managements in a broad variety of industries. Rand invests in early to later stage businesses that have sustainable, differentiated and market-proven products, revenue of more than $2 million and a path to free cash flow or up to $5 million in EBITDA. The Company’s investment activities are managed by its external investment adviser, Rand Capital Management, LLC. Additional information can be found at the Company’s website where it regularly posts information: https://www.randcapital.com/.

Funding Insights

Based on industry data
Tech investment trends
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